Ground-Leased Corner Lot
For Sale
$1,400,000
240 Shannon, Bainbridge Island, WA 98110
Corner lot land is currently leased for USPS employee parking and is held under a 5+ year ground lease.
Property SizeContact for details
Lot Size0.18 Acres
Days on Market59
Property Features for 240 Shannon
General Information
Standard status
Active
Lot size
0.18 Acres
Property subtype
Land
Zoning
CORE/Town Center/Madison Overlay
Additional Details
Cap Rate
4.11%
Listing Agency:
Windermere RE Bainbridge
(206) 842-5626
Listed By:
Jan Johnson
(206) 363-8509
Source:
Century21northhomes
Added: Jun 27
Changed: Aug 23
Last Checked: Aug 24 at 7:15AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Windermere RE Bainbridge
Investment Insights
Based on property information with market context.
This corner lot land offering totals 0.18 acres and is currently occupied as an employee parking lot for USPS. The property is described as being within “CORE/Town Center/Madison Overlay” under prime downtown Winslow zoning.
The remarks state the land is supported by a secure 5+ year ground lease. The leased parcel is described as being adjacent to existing above-ground multi-family housing and just up the street from Waterfront Park.
The provided information also references a 4.11% annual return on the investment, tied to the ground lease in place.
The remarks state the land is supported by a secure 5+ year ground lease. The leased parcel is described as being adjacent to existing above-ground multi-family housing and just up the street from Waterfront Park.
The provided information also references a 4.11% annual return on the investment, tied to the ground lease in place.
Key Highlights
- 0.18‑acre corner lot in downtown Winslow
- Currently occupied as a USPS employee parking lot
- Leased under a secure 5+ year ground lease
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,431
Businesses Nearby
Explore this area
Business Placement
Demographics for 98110, WA
24,825
Population
10,728
Households
2.3
Avg Household Size
51
Median Age
75%
College-Educated
99%
High-School Grad
27.6 sq mi
ZIP Area
899
Density / Sq Mi
$159,882
Median Household Income
$77,528
Median Earnings
$2,081
Median Rent
$1,076,200
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Waterfront Land - Corner lot land is currently leased for USPS employee parking and is held under a 5+ year ground lease.
Where is this waterfront land located?
The property is located at 240 Shannon Bainbridge Island, WA.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: 0.18‑acre corner lot in downtown Winslow; Currently occupied as a USPS employee parking lot; Leased under a secure 5+ year ground lease
